April 8, 2019
New York-based VICI Properties Inc. is acquiring the Jack Cincinnati Casino in Cincinnati for roughly $745 million in cash. The 22-acre property is being bought with a subsidiary of Hard Rock International in a lease-back agreement.
VICI Properties’ John Payne says, “This transaction expands our geographic footprint into one of the fastest-growing regional markets. As one of only four full-scale casinos permitted in Ohio, the property is poised to benefit from the introduction of Hard Rock, a dynamic and proven operator in the Ohio market.
Opened in March 2013, Jack Cincinnati is situated in the Broadway Commons area of downtown Cincinnati. The property features 100,000 square feet of gaming space, with roughly 1,800 gaming machines and 100 table games. Additionally, the property contains 33,000 square feet of meeting space, six high-quality restaurants, and two bars.
The transaction is subject to regulatory approvals, and is expected to close in late 2019.
For comments, questions or concerns, please contact Dennis Kaiser